Some UK Companies have a board that governs the strategic direction of the company. The structure of a UK company board and its members provide specialist knowledge, skills and expertise across a breadth of areas, such as finance, technology and marketing.
Under UK law – every private limited company is required to have a minimum of one company director. We generally advise our clients should have two directors appointed, as one director is unable to resign unless another has been appointed. For public limited companies – the minimum requirement is two directors.
It is possible to have one of these directors as another company, however at least one of the directors must be a natural person. These directors are responsible for ensuring the business complies with company law and are responsible for the filing of the annual Confirmation Statement and Annual Accounts.
UK subsidiaries of overseas company’s generally are governed by one or two board directors of the parent company board. We work with our clients to ensure the UK company is setup and governed by these individuals, while working in tandem to ensure the company’s accounting records are up to date, accounts are filed on time and the associated corporation tax is paid.